Suppose that a remote community in New Brunswick lacks broadband access to the Internet.A proponent of the invisible hand view would argue that
A) government regulation is necessary to ensure access.
B) the selfish pursuit of profit by Internet service providers will bring access to those willing to pay for it.
C) the selfish pursuit of pleasure by consumers will cause them to want another unnecessary service.
D) the consumers need to move to a large city.
E) the lack of access is the efficient allocation.
Correct Answer:
Verified
Q1: If buyers and sellers were free to
Q2: Explicit costs
A) are the only costs that
Q4: Economic profit is
A) the same as accounting
Q5: The correct definition of economic profit is
A)
Q6: Which of the following is NOT an
Q7: The value of income received by a
Q8: Accounting profit is
A) the only measure of
Q9: When total revenue is less than the
Q10: Implicit costs
A) are always fixed.
B) appear in
Q11: Which of the following would NOT be
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